Mayor’s office mulls over ‘hard-to-avoid’ 35% affordable rate
City Hall is considering plans for a non-negotiable 35% rate of affordable housing for private sector schemes in the capital.
Jules Pipe, London’s new Deputy Mayor for Planning, discussed this with Estates Gazette, stating that a flat 35% affordable housing target for certain types of development would help to remove uncertainty over viability.
“This is just one solution to address the shortage of affordable housing, but it would be good if we can come to some sort of easily understandable, hard-to-avoid contribution rate as this will avoid endless disputes.”
London Mayor Sadiq Khan has pledged a 50% affordable housing target, though Pipe has stated that this goal would be a long-term strategic target rather than one applied on a site-by-site basis.
It has been reported that the Mayor’s team is eager to get supplementary planning guidance released, in order to give certainty to the development industry on the requirements and processes around affordable housing.